v3.26.1
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (Tables)
 3 Months Ended
Mar. 31, 2026
Financial Instruments and Risk Management [Abstract]  
Schedule of Derivative Instruments
The tables below present information regarding the fair values of derivative instruments and the effects of derivative instruments on our consolidated financial statements:

Derivatives not designated as hedging instruments (economic hedges):
Asset DerivativesLiability Derivatives
Fair ValueFair Value
Balance sheet classificationMarch 31
2026		December 31
2025		Balance sheet classificationMarch 31
2026		December 31
2025
Foreign currency contractsOther current assets$2.5 $5.5 Other current liabilities$11.3 $2.9 
TRSOther current assets— 7.2 Other current liabilities9.8 — 
Loss (Gain) Recognized in Income
Three months ended March 31
20262025
Foreign currency contracts
Cost of sales$2.2 $(0.3)
SG&A5.6 2.6 
TRS (see note 8)
Cost of sales7.5 7.5 
SG&A9.5 11.6 

Derivatives designated as cash flow hedges:
Asset DerivativesLiability Derivatives
Fair ValueFair Value
Balance sheet classificationMarch 31
2026		December 31
2025		Balance sheet classificationMarch 31
2026		December 31
2025
Foreign currency contracts (i)
Other current assets$4.2 $12.1 Other current liabilities$12.1 $1.5 
Interest rate swaps (ii)
Other non-current assets1.5 0.4 Other non-current liabilities1.5 2.8 
(i)    In the next twelve months, we estimate that $6.2 of existing losses, net of tax, will be reclassified from AOCI into our consolidated statements of operations. The maximum length of time we hedge our exposure to the variability in future cash flows for forecasted foreign currency transactions is 12 months.
(ii) In the next twelve months, we estimate that $0.5 of existing gains, net of tax, will be reclassified from AOCI into our consolidated statements of operations. The maximum length of time that we hedge our exposure to the variability in future cash flows for forecasted interest payments is 3.2 years.

Loss (Gain) Reclassified from AOCI into Income
Three months ended March 31
(see note 9 for activities recorded in AOCI for the periods indicated)
20262025
Foreign currency contracts
Cost of sales$(6.7)$3.7 
SG&A0.9 0.9 
Interest rate swaps
Finance costs$(0.2)$(1.8)
Miscellaneous expense
— 1.3